SINGAPORE STOCKS: DIVIDEND YIELD MONITOR

SINGAPORE STOCKS: DIVIDEND YIELD MONITOR SINGAPORE STOCKS: Dividend Yield Greater Than 6% Ranked by company name Pg 2 Ranked by dividend yield Pg 3 SINGAPORE REITS Ranked by company name Pg 4 Ranked by dividend yield Pg 5 SINGAPORE STI STOCKS Ranked by company name Ranked by dividend yield Pg 6 Pg 7 Pg 1 of 8

SINGAPORE STOCKS: FY1 Dividend Yield Greater Than 6% (ranked by company name) Mkt Cap Eqy Div Yield (%) PER (x) US$m (x) Cur FY1 Cur FY1 FY2 Buy Hold Sell Total 1 AAREIT SP AIMS AMP Capital Indus REIT SGD 1.505 705 0.8 7.8 8.0 9 13 13 3 0 0 3 2 AMTK SP Amtek Engineering SGD 0.710 286 0.4 3.2 6.5 10 7 6 3 0 0 3 3 ASCHT SP Ascendas Hospitality Trust SGD 0.700 577 0.7 7.3 8.6 27 23 22 1 0 1 2 4 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 15 16 16 7 14 4 25 5 ART SP Ascott Residence Trust SGD 1.285 1,463 0.8 6.6 6.6 17 19 18 5 6 1 12 6 APTT SP Asian Pay Television Trust SGD 0.865 919 0.8 9.2 9.1 14 15 15 3 2 1 6 7 CACHE SP Cache Logistics Trust SGD 1.155 668 0.7 7.4 7.5 14 15 13 7 2 1 10 8 CREIT SP Cambridge Industrial Trust SGD 0.690 657 0.6 7.1 7.5 19 15 14 2 3 0 5 9 CRCT SP CapitaRetail China Trust SGD 1.695 1,053 1.0 5.7 6.5 9 18 17 5 3 1 9 10 CDREIT SP CDL Hospitality Trusts SGD 1.620 1,178 0.7 7.1 6.9 13 15 14 6 8 3 17 11 CDW SP CDW Hldg SGD 0.197 69 0.6 7.9 7.6 8 7 7 2 0 0 2 12 CMH SP China Merchants Hldgs SGD 1.055 904 0.5 6.3 6.6 8 11 11 2 0 0 2 13 CRT SP Croesus Retail Trust SGD 0.940 360 0.7 11.5 7.6 10 17 17 5 0 0 5 14 DMHL SP Dyna-Mac Hldgs SGD 0.255 187 0.8 5.9 7.8 6 8 10 2 1 0 3 15 FEHT SP Far East Hospitality Trust SGD 0.780 1,027 0.8 5.5 6.5 20 17 17 0 5 4 9 16 FIRT SP First REIT SGD 1.405 773 0.9 5.9 6.0 11 15 14 6 1 0 7 17 FCOT SP Frasers Commercial Trust SGD 1.525 770 0.8 6.2 6.5 11 17 16 6 0 0 6 18 FHT SP Frasers Hospitality Trust SGD 0.850 757-7.1 7.1 20 18 17 2 1 1 4 19 HPHT SP Hutchison Port Hldgs Trust USD 0.635 5,532 0.9 9.1 7.2-24 22 4 10 3 17 20 KREIT SP Keppel REIT SGD 1.145 2,698 0.7 5.9 6.1 9 19 18 6 12 3 21 21 LMRT SP Lippo Malls Indon Retail Trust SGD 0.365 734 0.8 10.0 8.5 15 12 12 1 3 0 4 22 MAGIC SP Mapletree G.C. Comm Trust SGD 1.025 2,070 0.9 6.6 6.9 9 17 17 6 2 1 9 23 MINT SP Mapletree Industrial Trust SGD 1.535 1,998 0.7 6.9 6.8 7 15 14 6 10 1 17 24 MLT SP Mapletree Logistics Trust SGD 1.130 2,068 0.7 6.5 6.9 12 14 13 4 12 1 17 25 NERT SP Nera Telecommunications SGD 0.635 170 0.8 6.3 6.3 16 13 13 0 1 0 1 26 OUECT SP OUE Commercial Real Estate Inv SGD 0.815 527-3.5 6.5-27 23 3 1 0 4 27 OUEHT SP OUE Hospitality Trust SGD 0.945 929 0.5 6.8 7.4 16 16 13 3 5 2 10 28 PAN SP Pan-United Corp SGD 0.710 294 0.8 6.0 6.1 14 11 10 0 1 1 2 29 PRA SP Parkson Retail Asia SGD 0.480 240 0.4 5.2 8.3 11 11 10 2 1 1 4 30 RHT SP Religare Health Trust SGD 1.030 607 0.8 7.2 7.8 22 16 14 1 3 0 4 31 SSREIT SP Sabana Shari'ah Compl Ind REIT SGD 0.855 461 0.5 8.3 8.5 16 14 14 1 0 1 2 32 SZREIT SP Saizen REIT SGD 0.870 182 0.5 7.1 7.5 10 - - 1 0 0 1 33 SBREIT SP Soilbuild REIT SGD 0.855 588 0.5 7.8 7.4 11 16 15 6 0 1 7 34 UMSH SP UMS Hldgs SGD 0.530 168 0.8 9.4 9.4 9 8 8 1 0 0 1 35 VMS SP Venture Corp SGD 7.850 1,602 0.5 6.4 6.4 15 14 13 7 3 0 10 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 2 of 8

SINGAPORE STOCKS: FY1 Dividend Yield Greater Than 6% (ranked by FY1 dividend yield) Mkt Cap Eqy Div Yield (%) PER (x) US$m (x) Cur FY1 Cur FY1 FY2 Buy Hold Sell Total 1 UMSH SP UMS Hldgs SGD 0.530 168 0.8 9.4 9.4 9 8 8 1 0 0 1 2 APTT SP Asian Pay Television Trust SGD 0.865 919 0.8 9.2 9.1 14 15 15 3 2 1 6 3 ASCHT SP Ascendas Hospitality Trust SGD 0.700 577 0.7 7.3 8.6 27 23 22 1 0 1 2 4 SSREIT SP Sabana Shari'ah Compl Ind REIT SGD 0.855 461 0.5 8.3 8.5 16 14 14 1 0 1 2 5 LMRT SP Lippo Malls Indon Retail Trust SGD 0.365 734 0.8 10.0 8.5 15 12 12 1 3 0 4 6 PRA SP Parkson Retail Asia SGD 0.480 240 0.4 5.2 8.3 11 11 10 2 1 1 4 7 AAREIT SP AIMS AMP Capital Indus REIT SGD 1.505 705 0.8 7.8 8.0 9 13 13 3 0 0 3 8 DMHL SP Dyna-Mac Hldgs SGD 0.255 187 0.8 5.9 7.8 6 8 10 2 1 0 3 9 RHT SP Religare Health Trust SGD 1.030 607 0.8 7.2 7.8 22 16 14 1 3 0 4 10 CRT SP Croesus Retail Trust SGD 0.940 360 0.7 11.5 7.6 10 17 17 5 0 0 5 11 CDW SP CDW Hldg SGD 0.197 69 0.6 7.9 7.6 8 7 7 2 0 0 2 12 CREIT SP Cambridge Industrial Trust SGD 0.690 657 0.6 7.1 7.5 19 15 14 2 3 0 5 13 CACHE SP Cache Logistics Trust SGD 1.155 668 0.7 7.4 7.5 14 15 13 7 2 1 10 14 SZREIT SP Saizen REIT SGD 0.870 182 0.5 7.1 7.5 10 - - 1 0 0 1 15 OUEHT SP OUE Hospitality Trust SGD 0.945 929 0.5 6.8 7.4 16 16 13 3 5 2 10 16 SBREIT SP Soilbuild REIT SGD 0.855 588 0.5 7.8 7.4 11 16 15 6 0 1 7 17 HPHT SP Hutchison Port Hldgs Trust USD 0.635 5,532 0.9 9.1 7.2-24 22 4 10 3 17 18 FHT SP Frasers Hospitality Trust SGD 0.850 757-7.1 7.1 20 18 17 2 1 1 4 19 MAGIC SP Mapletree G.C. Comm Trust SGD 1.025 2,070 0.9 6.6 6.9 9 17 17 6 2 1 9 20 MLT SP Mapletree Logistics Trust SGD 1.130 2,068 0.7 6.5 6.9 12 14 13 4 12 1 17 21 CDREIT SP CDL Hospitality Trusts SGD 1.620 1,178 0.7 7.1 6.9 13 15 14 6 8 3 17 22 MINT SP Mapletree Industrial Trust SGD 1.535 1,998 0.7 6.9 6.8 7 15 14 6 10 1 17 23 CMH SP China Merchants Hldgs SGD 1.055 904 0.5 6.3 6.6 8 11 11 2 0 0 2 24 ART SP Ascott Residence Trust SGD 1.285 1,463 0.8 6.6 6.6 17 19 18 5 6 1 12 25 FEHT SP Far East Hospitality Trust SGD 0.780 1,027 0.8 5.5 6.5 20 17 17 0 5 4 9 26 OUECT SP OUE Commercial Real Estate Inv SGD 0.815 527-3.5 6.5-27 23 3 1 0 4 27 FCOT SP Frasers Commercial Trust SGD 1.525 770 0.8 6.2 6.5 11 17 16 6 0 0 6 28 CRCT SP CapitaRetail China Trust SGD 1.695 1,053 1.0 5.7 6.5 9 18 17 5 3 1 9 29 AMTK SP Amtek Engineering SGD 0.710 286 0.4 3.2 6.5 10 7 6 3 0 0 3 30 VMS SP Venture Corp SGD 7.850 1,602 0.5 6.4 6.4 15 14 13 7 3 0 10 31 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 15 16 16 7 14 4 25 32 NERT SP Nera Telecommunications SGD 0.635 170 0.8 6.3 6.3 16 13 13 0 1 0 1 33 KREIT SP Keppel REIT SGD 1.145 2,698 0.7 5.9 6.1 9 19 18 6 12 3 21 34 PAN SP Pan-United Corp SGD 0.710 294 0.8 6.0 6.1 14 11 10 0 1 1 2 35 FIRT SP First REIT SGD 1.405 773 0.9 5.9 6.0 11 15 14 6 1 0 7 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 3 of 8

SINGAPORE REITS (ranked by company name) Mkt Cap Eqy Div Yield (%) Px /Book (x) US$m (x) Cur FY1 Cur FY1 Buy Hold Sell Total 1 AAREIT SP AIMS AMP Capital Indus REIT SGD 1.505 705 0.8 7.8 8.0 0.98 0.99-3 0 0 3 2 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 1.18 1.17-7 14 4 25 3 ART SP Ascott Residence Trust SGD 1.285 1,463 0.8 6.6 6.6 0.95 0.90-5 6 1 12 4 CACHE SP Cache Logistics Trust SGD 1.155 668 0.7 7.4 7.5 1.18 1.18-7 2 1 10 5 CCT SP CapitaCommercial Trust SGD 1.560 3,400 1.0 5.4 5.7 0.90 0.89-9 12 4 25 6 CDREIT SP CDL Hospitality Trusts SGD 1.620 1,178 0.7 7.1 6.9 1.00 0.98-6 8 3 17 7 CRCT SP CapitaRetail China Trust SGD 1.695 1,053 1.0 5.7 6.5 1.03 1.03-5 3 1 9 8 CREIT SP Cambridge Industrial Trust SGD 0.690 657 0.6 7.1 7.5 1.01 1.01-2 3 0 5 9 CT SP CapitaMall Trust SGD 2.150 5,505 0.9 5.0 5.2 1.18 1.18-8 12 4 24 10 FCOT SP Frasers Commercial Trust SGD 1.525 770 0.8 6.2 6.5 0.97 0.90-6 0 0 6 11 FCT SP Frasers Centrepoint Trust SGD 2.060 1,396 0.7 5.8 5.8 1.11 1.09-11 6 1 18 12 FEHT SP Far East Hospitality Trust SGD 0.780 1,027 0.8 5.5 6.5 0.81 0.80-0 5 4 9 13 FIRT SP First REIT SGD 1.405 773 0.9 5.9 6.0 1.38 1.36-6 1 0 7 14 FRT SP Fortune REIT HKD 7.680 1,862 0.8 5.4 5.9-0.63-7 4 0 11 15 KREIT SP Keppel REIT SGD 1.145 2,698 0.7 5.9 6.1 0.81 0.82-6 12 3 21 16 LMRT SP Lippo Malls Indon Retail Trust SGD 0.365 734 0.8 10.0 8.5 0.86 0.85-1 3 0 4 17 MAGIC SP Mapletree G.C. Comm Trust SGD 1.025 2,070 0.9 6.6 6.9 0.86 0.85-6 2 1 9 18 MCT SP Mapletree Commercial Trust SGD 1.475 2,306 0.8 5.4 5.6 1.19 1.18-3 8 1 12 19 MINT SP Mapletree Industrial Trust SGD 1.535 1,998 0.7 6.9 6.8 1.16 1.15-6 10 1 17 20 MLT SP Mapletree Logistics Trust SGD 1.130 2,068 0.7 6.5 6.9 1.10 1.04-4 12 1 17 21 OUECT SP OUE Commercial Real Estate Inv SGD 0.815 527-3.5 6.5 0.74 0.81-3 1 0 4 22 OUEHT SP OUE Hospitality Trust SGD 0.945 929 0.5 6.8 7.4 1.05 1.03-3 5 2 10 23 PREIT SP Parkway Life REIT SGD 2.350 1,051 0.8 5.5 5.4 1.37 1.38-3 3 0 6 24 SBREIT SP Soilbuild REIT SGD 0.855 588 0.5 7.8 7.4 1.07 1.09-6 0 1 7 25 SGREIT SP Starhill Global REIT SGD 0.870 1,403 0.6 5.8 5.9 0.93 0.92-9 1 1 11 26 SPHREIT SP SPH REIT SGD 1.055 1,970 0.5 5.3 5.0 1.13 1.13-0 5 1 6 27 SSREIT SP Sabana Shari'ah Compl Ind REIT SGD 0.855 461 0.5 8.3 8.5 0.80 - - 1 0 1 2 28 SUN SP Suntec REIT SGD 1.730 3,211 0.8 5.2 5.8 0.82 0.81-2 13 7 22 29 SZREIT SP Saizen REIT SGD 0.870 182 0.5 7.1 7.5 0.79 - - 1 0 0 1 30 VIT SP Viva Industrial Trust SGD 0.795 414-9.6-1.03 - - 0 1 0 1 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 4 of 8

SINGAPORE REITS (ranked by FY1 dividend yield) Mkt Cap Eqy Div Yield (%) Px /Book (x) US$m (x) Cur FY1 Cur FY1 Buy Hold Sell Total 1 SSREIT SP Sabana Shari'ah Compl Ind REIT SGD 0.855 461 0.5 8.3 8.5 0.80 - - 1 0 1 2 2 LMRT SP Lippo Malls Indon Retail Trust SGD 0.365 734 0.8 10.0 8.5 0.86 0.85-1 3 0 4 3 AAREIT SP AIMS AMP Capital Indus REIT SGD 1.505 705 0.8 7.8 8.0 0.98 0.99-3 0 0 3 4 CREIT SP Cambridge Industrial Trust SGD 0.690 657 0.6 7.1 7.5 1.01 1.01-2 3 0 5 5 CACHE SP Cache Logistics Trust SGD 1.155 668 0.7 7.4 7.5 1.18 1.18-7 2 1 10 6 SZREIT SP Saizen REIT SGD 0.870 182 0.5 7.1 7.5 0.79 - - 1 0 0 1 7 OUEHT SP OUE Hospitality Trust SGD 0.945 929 0.5 6.8 7.4 1.05 1.03-3 5 2 10 8 SBREIT SP Soilbuild REIT SGD 0.855 588 0.5 7.8 7.4 1.07 1.09-6 0 1 7 9 MAGIC SP Mapletree G.C. Comm Trust SGD 1.025 2,070 0.9 6.6 6.9 0.86 0.85-6 2 1 9 10 MLT SP Mapletree Logistics Trust SGD 1.130 2,068 0.7 6.5 6.9 1.10 1.04-4 12 1 17 11 CDREIT SP CDL Hospitality Trusts SGD 1.620 1,178 0.7 7.1 6.9 1.00 0.98-6 8 3 17 12 MINT SP Mapletree Industrial Trust SGD 1.535 1,998 0.7 6.9 6.8 1.16 1.15-6 10 1 17 13 ART SP Ascott Residence Trust SGD 1.285 1,463 0.8 6.6 6.6 0.95 0.90-5 6 1 12 14 FEHT SP Far East Hospitality Trust SGD 0.780 1,027 0.8 5.5 6.5 0.81 0.80-0 5 4 9 15 OUECT SP OUE Commercial Real Estate Inv SGD 0.815 527-3.5 6.5 0.74 0.81-3 1 0 4 16 FCOT SP Frasers Commercial Trust SGD 1.525 770 0.8 6.2 6.5 0.97 0.90-6 0 0 6 17 CRCT SP CapitaRetail China Trust SGD 1.695 1,053 1.0 5.7 6.5 1.03 1.03-5 3 1 9 18 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 1.18 1.17-7 14 4 25 19 KREIT SP Keppel REIT SGD 1.145 2,698 0.7 5.9 6.1 0.81 0.82-6 12 3 21 20 FIRT SP First REIT SGD 1.405 773 0.9 5.9 6.0 1.38 1.36-6 1 0 7 21 FRT SP Fortune REIT HKD 7.680 1,862 0.8 5.4 5.9-0.63-7 4 0 11 22 SGREIT SP Starhill Global REIT SGD 0.870 1,403 0.6 5.8 5.9 0.93 0.92-9 1 1 11 23 SUN SP Suntec REIT SGD 1.730 3,211 0.8 5.2 5.8 0.82 0.81-2 13 7 22 24 FCT SP Frasers Centrepoint Trust SGD 2.060 1,396 0.7 5.8 5.8 1.11 1.09-11 6 1 18 25 CCT SP CapitaCommercial Trust SGD 1.560 3,400 1.0 5.4 5.7 0.90 0.89-9 12 4 25 26 MCT SP Mapletree Commercial Trust SGD 1.475 2,306 0.8 5.4 5.6 1.19 1.18-3 8 1 12 27 PREIT SP Parkway Life REIT SGD 2.350 1,051 0.8 5.5 5.4 1.37 1.38-3 3 0 6 28 CT SP CapitaMall Trust SGD 2.150 5,505 0.9 5.0 5.2 1.18 1.18-8 12 4 24 29 SPHREIT SP SPH REIT SGD 1.055 1,970 0.5 5.3 5.0 1.13 1.13-0 5 1 6 30 VIT SP Viva Industrial Trust SGD 0.795 414-9.6-1.03 - - 0 1 0 1 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 5 of 8

SINGAPORE STI STOCKS (ranked by company name) Eqy Mkt Cap Div Yield (%) PER (x) US$m (x) Cur FY1 Cur FY1 FY2 Buy Hold Sell Total 1 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 15 16 16 7 14 4 25 2 CAPL SP CapitaLand SGD 3.500 11,042 1.3 2.6 2.5 13 21 19 17 5 0 22 3 CD SP ComfortDelGro SGD 3.210 5,095 0.9 2.6 2.8 24 22 19 6 4 2 12 4 CIT SP City Developments SGD 9.820 6,601 1.1 0.8 1.5 12 14 14 8 11 4 23 5 CT SP CapitaMall Trust SGD 2.150 5,505 0.9 5.0 5.2 12 19 19 8 12 4 24 6 DBS SP DBS Group Hldgs SGD 20.520 38,070 1.0 2.8 3.0 12 12 11 24 3 0 27 7 GENS SP Genting Spore SGD 0.910 8,117 0.8 1.1 1.1 31 23 19 8 11 3 22 8 GGR SP Golden Agri-Resource SGD 0.410 3,860 0.7 1.4 2.3 152 16 12 6 6 4 16 9 GLP SP Global Logistic Properties SGD 2.580 9,239 0.9 2.1 2.1 20 28 25 18 1 0 19 10 HKL SP Hongkong Land USD 8.200 19,293 1.0 2.3 2.3 15 22 20 15 2 1 18 11 HPHT SP Hutchison Port Hldgs Trust USD 0.635 5,532 0.9 9.1 7.2-24 22 4 10 3 17 12 JCNC SP Jardine Cycle & Carriage SGD 34.040 9,945 1.6 3.2 3.5 12 11 10 3 2 2 7 13 JM SP Jardine Matheson Hldgs USD 56.530 39,492 1.1 2.6 2.6 12 13 12 6 3 2 11 14 JS SP Jardine Strategic Hldgs USD 30.710 34,419 1.2 0.9 0.9 10 11 10 5 3 1 9 15 KEP SP Keppel Corp SGD 8.320 11,177 0.8 5.8 5.2 8 9 10 10 11 3 24 16 NOBL SP Noble Group SGD 0.760 3,711 1.5 1.3 4.5 40 7 6 6 7 1 14 17 OCBC SP OCBC SGD 10.220 30,568 1.0 3.5 3.6 10 11 10 16 9 2 27 18 OLAM SP Olam Int'l SGD 1.865 3,365 1.0 2.7 2.3 22 13 10 2 9 1 12 19 SCI SP SembCorp Industries SGD 3.960 5,223 1.0 5.6 4.0 9 10 9 6 9 2 17 20 SGX SP Spore Exchange SGD 7.880 6,234 1.0 3.6 3.7 26 24 22 6 10 4 20 21 SIA SP Spore Airlines SGD 10.590 9,164 0.9 2.1 3.9 34 16 13 5 11 3 19 22 SIE SP SIA Engineering SGD 3.880 3,220 0.8 3.7 3.8 24 24 22 1 0 7 8 23 SMM SP Sembcorp Marine SGD 2.870 4,432 0.9 4.5 4.2 11 12 12 3 11 11 25 24 SPH SP Spore Press Hldgs SGD 4.110 4,858 0.6 3.6 5.0 19 22 22 0 8 6 14 25 ST SP Spore Telecoms SGD 4.130 48,675 1.0 4.2 4.4 17 17 16 13 14 0 27 26 STE SP ST Engrg SGD 3.350 7,701 1.0 2.4 4.3 20 19 18 5 7 2 14 27 STH SP StarHub SGD 3.970 5,071 0.7 5.0 5.1 19 18 18 4 11 11 26 28 THBEV SP Thai Beverage PCL SGD 0.770 14,292 1.0 2.9 3.4 22 20 19 6 3 1 10 29 UOB SP United Overseas Bank SGD 23.110 27,372 1.1 3.0 3.4 11 11 10 10 15 2 27 30 WIL SP Wilmar Int'l SGD 3.300 15,601 0.8 2.3 2.7 13 12 11 13 6 0 19 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 6 of 8

SINGAPORE STI STOCKS (ranked by FY1 dividend yield) Mkt Cap Eqy Div Yield (%) PER (x) US$m (x) Cur FY1 Cur FY1 FY2 Buy Hold Sell Total 1 HPHT SP Hutchison Port Hldgs Trust USD 0.635 5,532 0.9 9.1 7.2-24 22 4 10 3 17 2 AREIT SP Ascendas REIT SGD 2.450 4,361 0.9 6.0 6.3 15 16 16 7 14 4 25 3 KEP SP Keppel Corp SGD 8.320 11,177 0.8 5.8 5.2 8 9 10 10 11 3 24 4 CT SP CapitaMall Trust SGD 2.150 5,505 0.9 5.0 5.2 12 19 19 8 12 4 24 5 STH SP StarHub SGD 3.970 5,071 0.7 5.0 5.1 19 18 18 4 11 11 26 6 SPH SP Spore Press Hldgs SGD 4.110 4,858 0.6 3.6 5.0 19 22 22 0 8 6 14 7 NOBL SP Noble Group SGD 0.760 3,711 1.5 1.3 4.5 40 7 6 6 7 1 14 8 ST SP Spore Telecoms SGD 4.130 48,675 1.0 4.2 4.4 17 17 16 13 14 0 27 9 STE SP ST Engrg SGD 3.350 7,701 1.0 2.4 4.3 20 19 18 5 7 2 14 10 SMM SP Sembcorp Marine SGD 2.870 4,432 0.9 4.5 4.2 11 12 12 3 11 11 25 11 SCI SP SembCorp Industries SGD 3.960 5,223 1.0 5.6 4.0 9 10 9 6 9 2 17 12 SIA SP Spore Airlines SGD 10.590 9,164 0.9 2.1 3.9 34 16 13 5 11 3 19 13 SIE SP SIA Engineering SGD 3.880 3,220 0.8 3.7 3.8 24 24 22 1 0 7 8 14 SGX SP Spore Exchange SGD 7.880 6,234 1.0 3.6 3.7 26 24 22 6 10 4 20 15 OCBC SP OCBC SGD 10.220 30,568 1.0 3.5 3.6 10 11 10 16 9 2 27 16 JCNC SP Jardine Cycle & Carriage SGD 34.040 9,945 1.6 3.2 3.5 12 11 10 3 2 2 7 17 THBEV SP Thai Beverage PCL SGD 0.770 14,292 1.0 2.9 3.4 22 20 19 6 3 1 10 18 UOB SP United Overseas Bank SGD 23.110 27,372 1.1 3.0 3.4 11 11 10 10 15 2 27 19 DBS SP DBS Group Hldgs SGD 20.520 38,070 1.0 2.8 3.0 12 12 11 24 3 0 27 20 CD SP ComfortDelGro SGD 3.210 5,095 0.9 2.6 2.8 24 22 19 6 4 2 12 21 WIL SP Wilmar Int'l SGD 3.300 15,601 0.8 2.3 2.7 13 12 11 13 6 0 19 22 JM SP Jardine Matheson Hldgs USD 56.530 39,492 1.1 2.6 2.6 12 13 12 6 3 2 11 23 CAPL SP CapitaLand SGD 3.500 11,042 1.3 2.6 2.5 13 21 19 17 5 0 22 24 HKL SP Hongkong Land USD 8.200 19,293 1.0 2.3 2.3 15 22 20 15 2 1 18 25 GGR SP Golden Agri-Resource SGD 0.410 3,860 0.7 1.4 2.3 152 16 12 6 6 4 16 26 OLAM SP Olam Int'l SGD 1.865 3,365 1.0 2.7 2.3 22 13 10 2 9 1 12 27 GLP SP Global Logistic Properties SGD 2.580 9,239 0.9 2.1 2.1 20 28 25 18 1 0 19 28 CIT SP City Developments SGD 9.820 6,601 1.1 0.8 1.5 12 14 14 8 11 4 23 29 GENS SP Genting Spore SGD 0.910 8,117 0.8 1.1 1.1 31 23 19 8 11 3 22 30 JS SP Jardine Strategic Hldgs USD 30.710 34,419 1.2 0.9 0.9 10 11 10 5 3 1 9 Source: Bloomberg Note: FY1 = 1st Year Forecast; FY2 = 2nd Year Forecast Pg 7 of 8

DISCLAIMER FOR RESEARCH REPORT This report is solely for information and general circulation only and may not be published, circulated, reproduced or distributed in whole or in part to any other person without the written consent of OCBC Investment Research Pte Ltd ( OIR or we ). This report should not be construed as an offer or solicitation for the subscription, purchase or sale of the securities mentioned herein or to participate in any particular trading or investment strategy. Whilst we have taken all reasonable care to ensure that the information contained in this publication is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness, and you should not act on it without first independently verifying its contents. Any opinion or estimate contained in this report is subject to change without notice. We have not given any consideration to and we have not made any investigation of the investment objectives, financial situation or particular needs of the recipient or any class of persons, and accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of the recipient or any class of persons acting on such information or opinion or estimate. You may wish to seek advice from a financial adviser regarding the suitability of the securities mentioned herein, taking into consideration your investment objectives, financial situation or particular needs, before making a commitment to invest in the securities. In the event that you choose not to seek advice from a financial adviser, you should consider whether investment in securities and the securities mentioned herein is suitable for you. Oversea-Chinese Banking Corporation Limited ( OCBC Bank ), Bank of Singapore Limited ( BOS ), OIR, OCBC Securities Pte Ltd ( OSPL ) and their respective connected and associated corporations together with their respective directors and officers may have or take positions in the securities mentioned in this report and may also perform or seek to perform broking and other investment or securities related services for the corporations whose securities are mentioned in this report as well as other parties generally. The information provided herein may contain projections or other forward looking statements regarding future events or future performance of countries, assets, markets or companies. Actual events or results may differ materially. Past performance figures are not necessarily indicative of future or likely performance. Privileged / confidential information may be contained in this document. If you are not the addressee indicated in this document (or responsible for delivery of this message to such person), you may not copy or deliver this message to anyone. Opinions, conclusions and other information in this document that do not relate to the official business of OCBC Bank, BOS, OIR, OSPL and their respective connected and associated corporations shall not be understood as neither given nor endorsed. Co.Reg.no.: 198301152E Carmen Lee Head of Research For OCBC Investment Research Pte Ltd Published by OCBC Investment Research Pte Ltd Pg 8 of 8